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Full Description
Money, Distribution and Economic Policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics and economic policy analysis. The contributors explore the following areas:
the development of heterodox theory
the role of money in macroeconomics
the relationship between distribution and aggregate demand
macroeconomic policy issues from a broader heterodox perspective.
This study will appeal to scholars, researchers and postgraduate students of macroeconomics and economic policy, money and banking and Post-Keynesian economics.
Contents
Contents:
Introduction
Eckhard Hein and Achim Truger
PART I: HETERODOX ECONOMIC THEORY AND MONEY IN MACROECONOMICS
1. What is the Cambridge Approach to Economics?
G.C. Harcourt
2. Heterodox Economics: A Common Challenge to Mainstream Economics?
Sheila Dow
3. Elements of a Monetary Theory of Production
Trevor Evans, Michael Heine and Hansjörg Herr
4. The Monetary Circuit Approach: A Stock-flow Consistent Model
Jean-Vincent Accoce and Tarik Mouakil
PART II: DISTRIBUTION AND AGGREGATE DEMAND
5. What Drives Profits? An Income-spending Model
Olivier Giovannoni and Alain Parguez
6. Wages and Aggregate Demand: An Empirical Investigation for France
Stefan Ederer and Engelbert Stockhammer
PART III: ECONOMIC POLICIES
7. New Institutions for a New Economic Policy
Jesús Ferreiro and Felipe Serrano
8. Structural Reforms and Macroeconomic Policy - The Example of Germany
Gustav A. Horn
9. Theories of Fiscal Policies and Fiscal Policies in the EMU
Anthony J. Laramie and Douglas Mair
10. The Link between Fiscal and Monetary Policy - Lessons for Germany from Japan
Richard A. Werner
11. Monetary Policy, Macroeconomic Policy Mix and Economic Performance in the Euro Area
Eckhard Hein and Achim Truger
Index